ICBA trade ideas
ICICI Bank
Support for ICICI Bank has been marked with copper lines along with corresponding price tags.
If this is not broken, buy with confidence and further swing levels have been provided on the chart itself.
Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses.
ICICI Bank
You can vouch that recovery came exactly from 1:35 candle yesterday, now treat it as support and expect more. Price Levels are:
Sell Below and Levels 884.07 869.26 854.58 840.03
Buy above and levels 902.75 906.51 914.05 929.23 944.53 959.96
Disclaimer: I am not a SEBI Registered Analyst, it is only for educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses.
ICICI Bank - Update 2
1. Closing of 10th October 951.2.
2. Closing of 13th October 951.3.
3. Closing of 16th October 951.4.
Means there is gradual increase in closing as well.
Index parent (Bank Nifty is also following almost same pattern),
Levels of Gann Circle
945, 952, 957, 960, 961.
means if 945 is not broken, there is nothing to worry. since lows of last two days are above this; should not be a problem. Swing lovers can adhere to these levels also.
961 is the major hurdle.
To repeat candle to watch is 10-18-23 10:39 AM. Please check update 1 as well. Link provided.
ICICI Bank - Update
Please check the data reflected on the chart.
1. Today's low was 946.15 which is higher that highs of 5th and 6th October.
2. Today's close is also above these levels.
(Means it is making higher lows as shows by grey curve in the graph and marked by white horizontal lines in the chart.
3. However, the price is stuck up between two trend lines, one from below and the other one from top. Making a triangle pattern.
4. Price is below 200 moving average in 1H as shown by 200 SMA of white color.
Please refer to my previous discussion on this stock as well. Link provided
Conclusion: Though, it is making higher lows but higher high has still not be broken. You may observe, that Options written on Friday are rarely changed till Tuesday therefore, bears are still having the control and not willing to let it go above 200 moving average; though gradual bullishness is coming into Play.
Important: 10-18-23 10:39 AM candle in one minute chart it going to play a major role. Mark high and low of this candle on Wednesday and find amazing results. Buy above this candle only.
ICICIBANK Long Opportunity (Inverted HnS formation)ICICIBANK is forming an Inverted Head and Shoulder pattern on hourly timeframe. The stock has bounced off it's lower longterm trendline and now has formed a range. We can expect the price to test the ATH Levels after breakout. Above this level, the stock will also cross above 50 MA on Daily timeframe so that gives more confidence.
Stop Loss: SL for this trade has to be 936
Entery: Entries can be made once the price crosses and closes above 962 at least on a 30 min TF. You can also wait for retest of the resistance for better risk reward.
Target: Targets can be 1000+ & New ATH
ICICI Bank Break out
For the purpose of ease of understanding of every one of us, I have not depicted Elliot Waves but just to mention that ICICI Bank has crossed it previous waves and is ready for the next move. Two Triangles have been drawn, one with Purple Color and the other with White. Purple triangle has been crossed and it has entered into white triangle. Drawn are two parallel trend lines to give you a better idea. Ist major Target is 986.85. However you may see that it is just below 34 EMA. So, wait for the proper levels to come.
Todays candle of 10-12-23 12:53 PM is going to play a major role. Please mark high and low of this candle and act accordingly.
I am not a SEBI Registered Analyst. Please make any decision in consultation with your financial advisor. I will not be responsible for any of your profits or losses.
ICICIBANK 15MEverything is mentioned on Charts.
Wish you Happy & safe Trading.
Trade as per your own RISK
Please Note:
I am not SEBI registered analyst.
My studies are for educational purpose only.
Please consult your financial advisor before Trading or Investing.
I'm not responsible for any kinds of your Profits & Losses.
ICICI Bank has formed double top in weekly time frameThis chart explains that ICICI Bank has broken the mid-point (support) and formed a double top pattern and got activated by breaking the support line in Weekly Time Frame
However nothing to panic as the next level of support is very near by and it is a short pattern. Unless it reverses and closes back above 950 this pattern will be valid.
If the pattern continues then the target range will be 922 - 915
Time to Exit - ICICI BankOne complete set of moves is almost done or may be just about to.
This is tripple correction combination which is WXYXZ starting from corona lows.
The bulls should be careful from here, as it should soon be starting wave counts to the downside.
Time to exit or atleast book profit and lets wait for a decent correction.
Will update as and when required.
Stay Alert...!!!
All the best..